PT-USDat is a Pendle Principal Token on USDat, Saturn's stablecoin backed 100% by digital credit (STRC). It represents a fixed-yield position on digital credit dividends, maturing 27 Aug 2026.
This is a max-APY yield loop: PT-USDat is supplied as collateral and AUSD is borrowed against it on Morpho, then recycled back into PT-USDat to multiply the underlying Digital Credit yield. Because the two assets are price-correlated, the position targets amplified yield rather than directional price exposure.
Live APY, leverage multiplier and available liquidity are shown in the app.